Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Tech stocks set to crater on Thursday with Facebook on track for biggest drop ever
CNBC(S) ^ | 25 Jul, 2018 | John Melloy

Posted on 07/25/2018 6:47:24 PM PDT by MtnClimber

The tech-heavy Nasdaq was set for a big down day Thursday after disappointing quarterly results from Facebook sent the social media giant hurtling toward its biggest share price decline ever and on track to lose more than $125 billion in market value.

The Invesco QQQ Trust, which tracks the Nasdaq 100 index and can give traders a good idea of how the Nasdaq stocks will trade, was down more than 2 percent at one point in after-hours trading Wednesday. At last count, the ETF was off by about 1.5 percent. Nasdaq futures opened lower Wednesday evening, off by about 0.8 percent. Facebook lost more than a fifth of its value after hours.

Big technology stocks other than Facebook felt the collateral damage as investors fled the sector. Apple lost about 1 percent. Facebook's "FANG" brethren were also lower. Amazon, which reports after the bell Thursday, lost 2.3 percent. Netflix, which disappointed FANG investors with its own set of weak results earlier this earnings season, shed about 3 percent in after-hours. Google parent Alphabet fell 2.4 percent.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Society
KEYWORDS: djia; economy; facebook; google; tech
Navigation: use the links below to view more comments.
first previous 1-2021-4041-43 next last
To: AZSonic

Yea, they data mine on users and make some available to those who will pay for it and some they make public on the users page links.


21 posted on 07/25/2018 7:35:55 PM PDT by MtnClimber (For photos of Colorado scenery and wildlife, click on my screen name for my FR home page.)
[ Post Reply | Private Reply | To 19 | View Replies]

To: MtnClimber
This is stupid. Why should other tech stocks be dragged down except maybe Google who is as dishonest as Facebook and deserve bankruptcy.

If this happens, there should be some good buying opportunities.

22 posted on 07/25/2018 7:37:35 PM PDT by dfwgator (Endut! Hoch Hech!)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Poison Pill
"Then someone sees their fund go down and they get jittery and sell"

Yep,they sell low and buy high;)

23 posted on 07/25/2018 7:40:58 PM PDT by mdittmar
[ Post Reply | Private Reply | To 20 | View Replies]

To: dfwgator

True. I had a big chunk of cash and put over 1/3 into tech and NASDAQ on Monday. I still have the rest that I was holding as insurance against unexpected happenings.


24 posted on 07/25/2018 7:42:43 PM PDT by MtnClimber (For photos of Colorado scenery and wildlife, click on my screen name for my FR home page.)
[ Post Reply | Private Reply | To 22 | View Replies]

To: Blue Jays

+1000 sums it up perfectly
What an upside down world we live in...

“They are a company that makes NOTHING and exist to datamine and spy on decent American citizens. They should have zero impact on financial markets in a sane world.”


25 posted on 07/25/2018 7:49:28 PM PDT by MarchonDC09122009 (When is our next march on DC? When have we had enough?)
[ Post Reply | Private Reply | To 3 | View Replies]

To: MtnClimber

Potential buying opportunity ahead in stocks that are collateral damage. (Those with good fundamentals but in the tech sector.)


26 posted on 07/25/2018 7:52:28 PM PDT by PAR35
[ Post Reply | Private Reply | To 1 | View Replies]

To: dfwgator

I should have read the thread first. You beat me to the thought by at least a quarter of an hour.


27 posted on 07/25/2018 7:54:09 PM PDT by PAR35
[ Post Reply | Private Reply | To 22 | View Replies]

To: MtnClimber

Heck, its stock will probably go up now that they have reformed and flushed all their bots and fake accounts and are a new and meaner policed more betterer Fussbook. more censors than ever.. Ohhh wait..


28 posted on 07/25/2018 7:55:01 PM PDT by NormsRevenge (Semper Fi - Monthly Donors Rock!!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Poison Pill

Such widespread selling in tech would take down the S&P 500. Then index-fund holders will get nervous and start selling too.


29 posted on 07/25/2018 8:01:41 PM PDT by proxy_user
[ Post Reply | Private Reply | To 20 | View Replies]

To: PAR35

Stocks have been overvalued since at least 2013. Every dollar will be erased in the next crash. It wouldn’t surprise me at all if the S&P ends up under 1,000 when it’s all over. This is the Fed bubble. Prepare yourself.


30 posted on 07/25/2018 8:02:16 PM PDT by SowellRocks (Let's hope that this is not the end of Western CIvilization)
[ Post Reply | Private Reply | To 26 | View Replies]

To: Blue Jays
"They are a company that makes NOTHING and exist to datamine and spy on decent American citizens. They should have zero impact on financial markets in a sane world."

Lot's of companies don't make anything. Manufacturing is not the only way to provide value.

31 posted on 07/25/2018 8:10:02 PM PDT by mlo
[ Post Reply | Private Reply | To 3 | View Replies]

To: SowellRocks

The economy is catching up with the bubble.

And I can’t see the S&P losing almost 2/3 of its value.

Some stocks out there are grossly overpriced, and there are few bargains available. As usual, the international banksters will throw in a ‘correction’ to liberate money from the normal folks to enrich themselves, but they can’t hold down a booming economy long term.


32 posted on 07/25/2018 8:14:29 PM PDT by PAR35
[ Post Reply | Private Reply | To 30 | View Replies]

To: mlo; MarchonDC09122009

"...Lots of companies don’t make anything. Manufacturing is not the only way to provide value..."


I get it. I work in technology.
The difference is reputable firms produce something of value.

The vast majority of FB users would quit overnight if they announced a $3.00 monthly fee.
People literally care about them that little. They provide that little meaning.


33 posted on 07/25/2018 8:39:04 PM PDT by Blue Jays ( Rock hard ~ Ride free)
[ Post Reply | Private Reply | To 31 | View Replies]

To: WashingtonSource

What clap trap from CNBC! Alphabet (GOOG) is down 1.36% in the after-hours market. Amazon (AMZN) is down 1.75%. Netflix (NFLX) is down 2.17%. Hardly a rout.


Amazon reports earnings after close Thursday. I would not be surprised to see Amazon’s stock price grind up into the close on Thursday on expectations that earnings are higher than expected.


34 posted on 07/25/2018 9:24:29 PM PDT by freedom1st
[ Post Reply | Private Reply | To 10 | View Replies]

To: freedom1st
Amazon will do way better because they are the largest online retailer and they make a LOT of money with Amazon Web Services (a lot of web sites use AWS).
35 posted on 07/25/2018 9:38:38 PM PDT by RayChuang88 (FairTax: America's Economic Cure)
[ Post Reply | Private Reply | To 34 | View Replies]

To: MtnClimber
...Nasdaq futures opened lower Wednesday evening, off by about 0.8 percent...

I have been an investor for over 50 Years. (Yes I really am that old and yes I really did start that early.)

Since the mid-1990s, when it became possible to easily follow averages on the internet, days when markets have risen for fallen by 0.8% Have happened several times each month.

This is a big nothingburger. Keep your eye on the GPD numbers which are set to be released on Friday. President Trump has already seen them, since he is bragging about them already, so it is going to be good.

I am hoping for 4+% increase. That would really boost the market.

36 posted on 07/25/2018 9:50:51 PM PDT by CurlyDave
[ Post Reply | Private Reply | To 1 | View Replies]

To: MtnClimber

It will take Facebook most of the rest of the year to get back to 217.

August through September are awful months.


37 posted on 07/25/2018 10:34:02 PM PDT by cicero2k
[ Post Reply | Private Reply | To 1 | View Replies]

To: MtnClimber

Hunting for bad news to try to offset the super economic data......”Economy is supercharged.....but Facebook is having a lousy time....”


38 posted on 07/26/2018 3:55:04 AM PDT by trebb (Too many "Conservatives" who think their opinions outweigh reality these days...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MtnClimber

Facebook is certainly the creepiest invention in history, and potentially the most powerful tool of authoritarians and tyrants. People are finally waking up to this.

And by the way, is Zuckerberg the real voice of Kermit the Frog?


39 posted on 07/26/2018 5:27:18 AM PDT by motor_racer (If you don't read the news, you are uninformed. If you read the news, you are misinformed.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MtnClimber

Suckerberg on suicide watch ...


40 posted on 07/27/2018 9:33:26 AM PDT by VRWC For Truth (Enjoy the SUCK! , 'Rats ..)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-43 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson